At the moment, EURCAD is moving towards point of support to potentially form a 'double bottom' . from this point on, i see price retracing at least 50% of the bearish move before trading lower to our targets. Having said that, price is showing the potential to move to our targets without a pullback.
Only take the trade if price pullbacks to our entry as this allows for a risk to reward ratio. Close majority of the position at take profit one and move stop loss past entry point and let the rest ride out risk free.
Do not trade the pullback, wait to enter the real move.
Only take the trade if price pullbacks to our entry as this allows for a risk to reward ratio. Close majority of the position at take profit one and move stop loss past entry point and let the rest ride out risk free.
Do not trade the pullback, wait to enter the real move.
